Liliana Orozco
1 min read
Shares of Riot Platforms Inc (NASDAQ:RIOT) are headed for a ninth loss in 10 sessions, last seen down 0.6% at $19.20. However, the equity remains 50% higher for 2026 and tapped a nearly five-year peak of $30.32 on June 22. The stock’s recent pullback has also taken the shares near a historically bullish trendline, suggesting more gains could be on the way.
According to Schaeffer’s Senior Quantitative Analyst Rocky White, RIOT is trading within 0.75 times the 260-day moving average’s 20-day average true range (ATR), after spending at least 80% of the previous two weeks and 80% of the prior 42 trading sessions above that trendline.
This setup has appeared six times over the last decade, after which the stock was higher one month later 100% of the time, averaging a whopping 19.7% gain. From its current mark, this would put RIOT at $22.93.
Short interest is elevated, with the 51.11 million shares accounting for 14.7% of RIOT’s available float. It would take short sellers nearly three days to buy back their bearish bets, at the stock’s average pace of daily trading.
Options are looking affordable as well. The stock’s Schaeffer’s Volatility Index (SVI) of 73% stands higher than just 1% of all other readings from the past year. In other words, near-term option traders are pricing in low volatility expectations at the moment.
